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In the aftermath of this collapse, JP Mullen, the co-founder and CEO of the Mantra project, provided an explanation attributing the cause to what he described as uncalculated forced closures executed in a coordinated manner by centralized trading platforms against the accounts of token holders.
He added that the timing and depth of the collapse indicate that these closures occurred suddenly and without prior warning or clear notice to users.
However, followers of the CEO's response were not completely convinced by the reply, with some accusing the project team of having pulled out on the project and token holders, claiming that the project is just another scam in the crypto market.